SoftCo AP Automation

SoftCo Accounts Payable Automation processes supplier invoices electronically from capture and matching to invoice approval and query management. Accounts Payable Automation software replaces manual, paper-based processes, condenses spreadsheets, and removes time-consuming and costly tasks.

SoftCo’s AP Automation software processes all PO and non-PO supplier invoices electronically from capture and matching to invoice approval and query management. SoftCoAP delivers unparalleled touchless automation by incorporating unique Artificial Intelligence (AI) and Adaptive Learning technologies to minimize the number of supplier invoices that require manual intervention. The result is 89% processing savings.

SoftCoPay transforms payments from a cost center to a profit center by optimizing payments, earning rebates, reducing costs and mitigating payment risk. SoftCoPay streamlines payments into a single easy to use workflow regardless of payment type (card, ACH, or check).

For over 30 years, SoftCo has delivered enterprise software solutions that streamline processes, reduce costs, and ensure full financial control and visibility. Now, Accounts Payable automation enables the finance team to see the status of accruals, handle exceptions, and generate real-time reporting and analytics, ensuring faster month-end close and reduced costs.

Video Overview

SoftCo Features

• Supplier Relationship Management: Onboard, manage, and communicate with suppliers via an easy-to-use portal.
• Invoice Data Capture: Easily capture and store all paper, PDF, and electronic invoices in one place.
• Invoice Matching: Automatically match invoices against POs, goods receipt notes, and master data.
• Touchless Invoice Processing: Smart matching technology addresses even the most complex scenarios for 80% STP.
• Invoice Approval Workflow: Flag non-PO or exception invoices to AP for coding and route to the relevant approver.
• ERP Integration: Seamlessly integrate with 200+ ERPs to hand over approved invoices for payment.
• Spend Analytics: Maintain full visibility with detailed spend, accruals, budget, and KPI reporting.
• Surcharge Handling: Capture, validate and account for surcharges to ensure transparency and accuracy over the true costs of goods and materials.
• SoftCoPay grants access to a network of over 3.8 million vendors in various industries who can readily accept payments via SoftCoPay.
• Earn attractive monthly rebates for vendor payments made by virtual card.
• Certified: SoftCo are SOC & ISO 27001 Certified.

Pricing Details

Please contact SoftCo directly to get detailed pricing. The tiered Pricing Model is based on annual invoice volume levels starting at 15,000 invoices per annum.

Benefits

• Precise Invoice Data Capture: Eliminate paper and fully automate your invoice data capture process.
• Accelerated Exceptions and Query Handling: Handle all your invoice exceptions and queries in one place.
• Unrivalled Invoice Matching: Efficiently match your PO invoices to orders and deliveries.
• Intelligent Invoice Approval Workflow: Fully automate your invoice approval process.
• Easy On-the-Go approval: Approve invoices on the go via email or the SoftCo App.
• Seamless Management of Recurring Contracts: Validate your invoices against your subscriptions/contracts.
• Simple ERP Integration: Seamlessly integrate with any ERP system to hand over approved invoices for payment.
• Streamlined Non-PO Invoices: Revolutionize the approval of your non-PO invoices.
• Powerful Real-time reporting/AI Analytics: Maintain full visibility with detailed spend, accruals, budget, and KPI reporting.

Finally, AP Automation’s powerful capture, smart matching and clever exception handling delivers the lowest processing cost per invoice.